Futures for stock indices in Canada were slightly higher on Monday, as investors shrugged off reports that Washington is considering delisting Chinese companies from U.S. stock exchanges.
The S&P/TSX index doffed 96.13 points Friday to 16,694.27, a sharp dive of 205 points, or 1.2% on the week.
The Canadian dollar settled 0.05 cents to 75.49 cents U.S. early Monday
December futures gained 0.1% early Monday.
BMO cut the target price on CCL Industries to $69 from $70
Canaccord Genuity initiated coverage on Akumin Inc. with buy rating
On the economic front, Statistics Canada’s industrial product price index rose 0.2% in August. Higher prices for meat, fish and dairy products and for primary non-ferrous metal products were mostly offset by lower prices for energy and petroleum products.
Meanwhile, the agency’s raw materials price index fell 1.8%, mainly as a result of lower prices for crude energy products.
ON BAYSTREET
The TSX Venture Exchange faded 3.55 points Thursday to 574.83
ON WALLSTREET
U.S. stock index futures rose on Monday, the last day of September, as investors kept an eye on the latest trade developments between the U.S. and China.
Futures for the Dow Jones Industrials picked up 68 points, or 0.3%, early Monday to 26,864
Futures for the S&P 500 gained 8.25 points, or 0.3%, at 2,972
NASDAQ Composite heightened 31.75 points, or 0.4% to 7,733
It’s a quiet day for companies reporting earnings, with Thor Industries among the few stepping forward.
The major indexes were headed for a mixed monthly performance. The NASDAQ was down slightly for September entering Monday’s session while the S&P 500 and Dow were up more than 1%.
On the data front, Chicago Purchasing Managers Index figures for September are due at 8:45 a.m. ET and Dallas Fed manufacturing index data will be published at 9:30 a.m. ET.
Wall Street ended lower last week on reports that the White House is considering limiting U.S. investment into China, including a possible de-listing of Chinese companies from U.S. stock exchanges, in a further escalation of the ongoing trade dispute between the world’s two largest economies.
U.S. and China trade delegations are due to meet on Oct. 10 as both sides try to move closer to a deal. Both countries have slapped tariffs on billion of dollars worth of their goods, dampening expectations for economic and corporate profit growth.
Overseas, in Japan, the Nikkei 225 flopped 0.6% Monday, while in Hong Kong, the Hang Seng index gained 0.5%
Oil prices sank 61 cents to $55.30 U.S. a barrel.
Gold prices dropped 16 dollars to $1,490.40 U.S. an ounce.
